Thursday, July 09, 2020

Thai bourse expected to react to inflation, US-China tensions next week

May 30. 2020
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By The Nation

The Stock Exchange of Thailand (SET) Index next week (June 1 to 5) is expected to move between 1,300 and 1,380, a Kasikorn Securities stock analyst said.

He said the index support line is between 1,300 and 1,320, while the resistance line is between 1,355 and 1,380.

Meanwhile, he advised investors to monitor Thailand’s inflation rate in May, the Covid-19 situation, and tensions between the US and China.

“As far as US economic data is concerned, we advise following the Purchasing Managers’ Index in manufacturing and service sectors, nonagricultural employment and jobless rate in May,” the analyst said.

“For other international factors, we advise following the European Central Bank’s meeting on monetary policy and the euro-zone and China’s Purchasing Managers’ Index in May.”

On Friday (May 29), the SET Index closed at 1,342.85, up 2.98 per cent from the previous week, while average daily transaction was Bt77.688 billion, up 15.22 per cent from the previous week.

Meanwhile, the Market for Alternative Investment closed at 284.87, up 4.09 per cent from the previous week.

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